DJ Lenta Announces Management Changes
Lenta IPJSC (LNTA;LENT) Lenta Announces Management Changes 05-May-2022 / 14:00 CET/CEST Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
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Press Release | St. Petersburg | 5 May 2022
Lenta Announces Management Changes
St. Petersburg, Russia, 5 May 2022: Lenta IPJSC (LSE: LNTA, MOEX: LENT), one of the largest multi-format retail chains in Russia, announces changes in the senior management team and organizational structure of the Company. To support the new strategy of the Company, Lenta's management has taken a decision to establish the Small Format Department. The Small Format Department will be responsible for implementing Lenta's strategy of expansion into small formats, managing small format stores (SFSs), operational development of SFSs, improving operational efficiency of SFSs and ensuring that they meet strategic targets.
The Company announces the appointment of Emil Bagirov to the position of Small Format Department Director with the effect from 5 May 2022. Emil will report directly to Lenta CEO Vladimir Sorokin.
Mr. Bagirov has more than 15 years of experience in retail. Prior to joining Lenta, Emil held a number of senior positions in the Pyaterochka retail chain (part of X5 Group). Emil graduated from the Tula State Pedagogical University with a degree in Social Pedagogy and the Law Academy of the Ministry of Justice of the Russian Federation with a degree in Jurisprudence. Mr. Bagirov also holds an MBA from the International Institute for Management Development.
Vladimir Sorokin, Chief Executive Officer of Lenta, commented:
"On behalf of the Board of Directors and the management of the Company, I am pleased to welcome Emil to our team. Small format stores are one of the key elements of Lenta's strategy. We now have to develop a CVP, improve our pricing model, streamline our operations, and improve the efficiency of our small stores in order to deliver a champion offer in our Super Lenta and Mini Lenta stores. I firmly believe that Emil's experience and knowledge of Russian retail industry will allow us to achieve our goals.
Despite the changing external environment, we remain committed to our strategy and continue to provide Russian customers with a wide assortment of products at an affordable price."
For further information, please visit https://corp.lenta.com/ or contact:
Lenta Lenta
Mariya Filippova
Tatyana Vlasova Head of Public Relations and Government Affairs
Head of Investor Relations maria.filippova@lenta.com
tatyana.vlasova@lenta.com
EM (International Media Inquiries)
Lenta@em-comms.com About Lenta
Lenta IPJSC (LSE: LNTA, MOEX: LNTA, LENT) is a leading Russian multi-format food and FMCG retailer. The company operates hypermarkets, supermarkets, and recently launched a new proximity store format under the brand "Mini Lenta." It also provides customers the option to shop online via its click-and-collect and express delivery services. Lenta is Russia's largest hypermarket operator and the fourth largest food retailer overall by Sales. The company was founded in 1993 in St. Petersburg and as of December 31, 2021, operated 254 hypermarkets and 541 supermarkets and convenience stores in over 200 cities and towns across Russia with more than 1.77 million square meters of Selling Space. The average Lenta hypermarket has approximately 5,500 square meters of selling space, the average Lenta supermarket has 800 square meters, and the Mini Lenta format is 500 meters on average. The company operates 14 distribution centers to supply all of its stores. 2021 Revenues were RUB 484 billion (approximately USD 6.5 billion).
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ISIN: US52634T2006, US52634T1016 Category Code: MSCH TIDM: LNTA;LENT LEI Code: 213800OMCE8QATH73N15 OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State Sequence No.: 159613 EQS News ID: 1343797 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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May 05, 2022 08:00 ET (12:00 GMT)
